| DEC. 1813.
CHAP. 122. |
LAWS OF MARYLAND.
allowed to the first of November next, to signify their acceptance
or rejection of the same.
See 1814, ch. 76; 1815, ch. 167; 1818, ch. 147. |
Treasurer to invest
proceeds of
tax and report annually
to general
assembly. |
9. AND BE IT ENACTED, That the treasurer of
the western
shore be and he is hereby directed, from time to time, to invest in
stock in the Commercial and Farmers Bank of Baltimore, and
Mechanics Bank of Baltimore, for which the state of Maryland
is authorised to subscribe in those banks, all such sums of money
which he may receive in virtue of this act, together with the dividends
arising from such stock, and he is hereby required to keep
an account of such stock, which he shall denominate a fund for the
establishment of free schools, separately from the rest of the funds
of the state of Maryland, and make a report thereof annually to
the general assembly. |
Fund pledged for
establishment of
free schools. |
10. AND BE IT ENACTED, That the said stock
so accumulating
is hereby inviolably pledged for the establishment of a general
system of free schools throughout the state of Maryland, and shall
be used or appropriated for no other purpose whatsoever, and shall
be equally divided among the several counties of this state.
See 1816, ch. 256, and ch. 259. |
Faith of state
pledged to banks
accepting. |
11. AND BE IT ENACTED, That upon any of the
aforesaid banks
accepting of, and complying with the terms and conditions of this
act, the faith of the state is hereby pledged not to impose any
further tax or burthen upon them during the continuance of their
charters under this act; and in case of the acceptance of, and compliance
with the provisions of this act, by the several banks hereby
required to make the aforementioned road, the faith of the state
is further solemnly pledged to the several existing banks in the city
of Baltimore, not to grant a charter of incorporation to any other
banking institution to be established in the city or precincts of Baltimore,
before the first day of January eighteen hundred and thirty-five,
and the end of the session of the general assembly next thereafter. |
Banks exempt
from tax on paying
200,000 dollars. |
12. AND BE IT ENACTED, That the said banks
specified in the
seventh section of this act, should they elect so to do, shall be and
they are hereby exempt from the payment of the annual tax hereby
imposed, upon condition of their paying to the treasurer of the
western shore of the state of Maryland, on or before the first day
of January one thousand eight hundred and sixteen, the sum of
two hundred thousand dollars, to be appropriated in the manner
herein before provided for. |
| Parts of acts repealed. |
13. AND BE IT ENACTED, That all such parts
of the act to which
this is a supplement, or of any law as are repugnant to, or
inconsistent with, the provisions of this act, be and the same are
hereby repealed. |
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Passed Jan. 27, 1814.
* Ch. 83. |
CHAP. CXXIII.
A Supplement to the act, entitled, An act to authorise Matthias
Shaffner, late Sheriff of Washington County, to complete
his Collections,
passed at this present Session of Assembly*.
Lib. TH.
No. 4, fol. 142. |
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